Honeygrow's Disciplined Approach to Aggressive Growth
Since Honeygrow's founding in Philadelphia less than five years ago, growth has been aggressive. The brand, which focuses on wholesome eating through stirfries and salads, has built 16 stores since 2012 and still turns down the vast majority of opportunities evaluated, says founder Justin Rosenberg.
"The strategy has been to find the best sites, initially within our home market, Philadelphia, in both urban and suburban areas," he says. "Then, ultimately, we head north and south to the New York and Washington, D.C., metropolitan areas.
"Discipline in the deal is everything—we've walked away from amazing locations simply because the numbers don't add up," he adds. "Growth has been accomplished through company-generated cash flow and capital fundraisers from partners. We do not franchise and we have no plans to do so."
Rosenberg says that the brand's focus sets it apart from the competition, and that the company was founded on the idea of pursuing a life surrounded by "the things that make us happy: cooking, music, and design."
"We're not in the space to simply have a cool brand, open a bunch of stores, and brag about it," he says. "We get to do what we love every day while building a company—so there's a soulful passion behind our decisions and processes."